Prohibition of Money Laundering

The Law prohibiting money laundering compels banks to obtain identifying details from their private customers as well as a declaration on who their account is being managed for. In corporations, a declaration of who controls the corporation is also required.

According to the provisions of the Law for the Prohibition of Money Laundering, every account holder must declare whether he acted for himself or on behalf of a person for whom the property is held or used or who can control the property, directly or indirectly.

Thus, all account holders must complete and signed a "Declaration of Account Beneficiary" form. In the absence of a signature, the account may be blocked.

A "Declaration of Account Beneficiary" is available for signing at all Benleumi branches.